ASX CORPORATE GOVERNANCE COUNCIL PRINCIPLES AND RECOMMENDATIONS OF CORPORATE GOVERNANCE

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ASX CORPORATE GOVERNANCE COUNCIL PRINCIPLES AND RECOMMENDATIONS OF CORPORATE GOVERNANCE

MAA 763 Governance and Fraud – T2 2016

Some companies appear to perform well despite not following all of the ‘ASX Corporate Governance Council Principles and Recommendations of Corporate Governance’. You are allocated with two ASX companies (refer to the link provided below for company annual reports). Please check your allocated ASX companies using your student number in the excel spreadsheet located in the assignment folder on Cloudsite.

(1) For the year ending 2015 and using the ASX Principles and Recommendations (2014) version, provide response to the followings:

i. Critically evaluate the depth of each company in their adoption of ASX CGC principles and recommendations (2014); 
ii. Discuss the link between corporate governance and performance. In your discussion, you are expected to analyse the underlying theoretical underpinning; and 
iii. Do you think the adoption of ASX principles and recommendations have made an impact on companies’ performance? Discuss. 
(Company annual reports can be found at the library web page 
http://www.connect4.com.au.ezproxy-f.deakin.edu.au/products/ar/index.html)
(10 marks)

(2) For the two companies you are allocated, provide a summary of the short term and long term salary, board composition/gender balance and performance benchmarks for the executives of the companies over the 5 years June 30, 2011 to June 30, 2015. Give your opinion as to whether: 
i. The performance benchmarks for remuneration are clear and appropriate; 
ii. There is a link between gender diversity of boards and performance; and
iii. Gender balance of boards be made compulsory key performance indicator over time to ensure diversity. Why or why not? (10 marks)
(10 + 10 = 20 marks)